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Hanoi irons out snags for businesses
The city of Hanoi will establish a hotline to help businesses remove obstacles to their operations, municipal authorities announced at a meeting with local businesses on March 30.
At the meeting, numerous businesses urged the local authorities to accelerate public administrative reforms and create preferential policies for them to develop and access loans. They also proposed upgrading the city’s electrical, traffic and urban infrastructure.
“We really want to invest in Hanoi… but the investment climate here does not live up to our expectations at the moment, and administrative reforms still take long,” said Nguyen Tan Khai, Chief Executive Officer of the International Milk Company.
Since the beginning of 2010, production and trade by local businesses have contributed considerably to the capital city’s rapid growth rate of 8.7 percent in the first quarter. But the city has not made the most of its potential or its advantages. Its competitiveness index remains low and the dynamism of the public administrative apparatus is still poor.
The city has come up with five solutions to successfully achieve its target of growing at 9.5-10 percent this year, according to the Vice Chairman of the city’s People Committee, Nguyen Huy Tuong. They include scrutinizing mechanisms, stepping up the reform of administrative procedures, using investments more effectively, and setting up a hotline to support enterprises.
In addition, various municipal officials requested businesses to take the initiative when restructuring their investment operations, selecting advanced technologies, focusing their investments more accurately, and economizing during the production process to reduce production costs while securing a firm foothold on both foreign and domestic markets.
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